The 28thWorld Economic Forum for the continent of Africa was held earlier this month. The lively forum saw the gathering of more than 1000 regional and global leaders from all corners of politics, business, academia and civil society. AF19 had a serious tone with the theme of "Shaping Inclusive Growth and Shared Futures in the Fourth Industrial Revolution" with four key areas covered: innovation, cooperation, growth, digitalisation and stability.
Alongside the delegates were several excellent co-chairs helping guide the crucial talks on Africa's regional priorities. These were, Sipho M Ptyana, Chairman of AngloGold Ashanti South Africa; Jeremy Farrar, Director of Wellcome Trust UK; Arancha Gonzalez Laya, Executive Director of the International Trade Centre; André Hoffmann, VC of Roche, Switzerland; Alex Liu, Managing Partner of AT Kearney and Jim Ovia, Chairman of Nigeria’s Zenith Bank.
Dragon CEO Paul Moynan has a long history with Africa forging strong links after serving as advisor to the Offices of The President of a number of African States as well as personal advisor to a number of families in Saudi Arabia and Dubai. These extensive networks bring an extraordinary reach which is an excellent foundation as Dragon prepare to bring Dragon Blockchain Innovation and iGaming to the African continent.
The continent of Africa is a unique position; it has a young population with 200 million people being of the ages of 15 – 24. On top of this, the next year sees more than 20 elections taking place across Africa, meaning that the some of the world's youngest people on the continent are indoubtedly going to face a new era of change and innovation. South African President, Cyril Ramaphosa gave his assessment of the situation saying that:
"This is Africa's century, and we want to utilise it to good effect."
The new era facing the African continent makes it ripe for the adoption of blockchain technology. Africa is part of Dragon CEO Pal Moynans plans for expansion to bring the positive benefits of Dragon Blockchain Innovation. As well as having one eye on delivering the key Pillars of Dragon iGaming and eGaming to the continent the recently updated Dragon Social Wallet could have a phenomenal impact too. The free Dragon Social Wallet, available here can act as a catalyst for this emerging economy by removing intermediaries and other third-party payment systems.
With the ability to complete transactions near-instantaneously and with extremely low fees of 0.5%, many businesses could introduce this into their existing practices to dramatically reduce their operating costs. Dragon Social Wallet to wallet transactions are free, so this could help people who are unbankable to access the new era of blockchain innovation immediately; allowing them to hold digital assets, trade and conveniently pay for good and services.
Leaders gathered at the WEFA unilaterally agreed on the ratification of the Africa Continental Free Trade Area (AfCFTA). A monumental agreement that will bring down trade barriers with the hope of boosting economies. Africa can now confidently branch out to forge stronger trade links and relations with European, American and Asian neighbours. A glance at the event calendar shows this is already picking up pace with the Turkish Africa Investment Trade Summit taking place later this month which will feature members of the Dragon team. The African continent is undoubtedly set to play an integral part in the Fourth Industrial Revolution; the use of multiple digital technologies like blockchain could help transform the workings of a whole continent, and we'll keep you right up to date on our blog.